- Unsurprisingly trading yesterday was very muted, with next to no data set for release and the US and China observing Bank Holidays.
- That was reflected in the lack of movement in FX space.
- GBP/EUR traded in an incredibly tight range, from a low of 1.1271 to a high of 1.1300.
- The Eurozone Current Account figure was just shy of expectations at 29.9Bn (30.5Bn Exp).
- Speaking in London yesterday, Australian Foreign Minister Bishop said that Australia would be very keen to pursue a free trade agreement with the UK post-Brexit and would hopefully be able to look at greater visa access between the two nations.
- According to Bloomberg, The UK Government has a contingency plan to hold back billions of Pounds in Brexit payments should the EU be unwilling to offer the UK the trade deal that it wants, albeit this would not be the Governments preferred plan.
- Speaking yesterday evening Bank of England Governor Mark Carney said Bitcoin has pretty much failed as it is not a store of value and nobody is using it as a medium of exchange. He did add that the technology itself might still prove useful.
- The Reserve Bank of Australia released their monthly meeting minutes overnight, but they were largely unchanged from the previous month. The RBA once again said further progress on inflation was likely to be gradual and that a strengthening Aussie Dollar would impede the pick-up in economic growth.
- President Trump tweeted this morning: ‘The US Economy is looking very good, in my opinion, even better than anticipated. Companies are pouring back into our country, reversing the long term trend of leaving. The unemployment numbers are looking great, and regulations & taxes have been massively cut! JOBS, JOBS, JOBS’
- New Zealand PPI Input q/q 0.9% (0.3% Exp)
- Swiss Trade Balance 2.09Bn (2.78Bn Exp)
- German PPI m/m 0.5% (0.3% Exp)
- Fairly light on the data calendar again today.
- German ZEW Consumer Sentiment is possibly the highest impact print at 10am.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|10.00||EUR||German ZEW Economic Sentiment||16.5||20.4|
|10.00||EUR||Eurozone ZEW Economic Sentiment||28.4||31.8|
|11.00||GBP||CBI Industrial Order Expectations||12||14|
|13.30||CAD||Wholesale Sales m/m||0.7%|
|TBC||NZD||GDT Price Index||5.9%|
|15.00||EUR||Eurozone Consumer Confidence||1||1|